JP Morgan's post-trade overhaul proves itself

Arcordia is taking its first steps as an independent commercial venture

By

Frances Maguire

June 18, 2001 5:00 pm GMT

Four years ago, executives at JP Morgan sat down with a clean sheet of paper in front of them and drew up a radical overhaul of the myriad of post-trade processing systems and operations the bank had in place for over-the-counter (OTC) interest rate, exotic, credit and equity derivatives.

OTC volumes had grown dramatically and the bank realised the level of its dependence on manual processing - as volumes grew so did back-office staffing levels.